Stonekeep Investments LLC Buys 944 Shares of DraftKings Inc. (NASDAQ:DKNG)

Stonekeep Investments LLC grew its stake in DraftKings Inc. (NASDAQ:DKNGFree Report) by 15.9% during the 4th quarter, HoldingsChannel reports. The fund owned 6,863 shares of the company’s stock after purchasing an additional 944 shares during the quarter. Stonekeep Investments LLC’s holdings in DraftKings were worth $255,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Delos Wealth Advisors LLC purchased a new stake in DraftKings during the 3rd quarter valued at about $43,000. V Square Quantitative Management LLC purchased a new position in DraftKings in the 3rd quarter worth about $46,000. Creative Financial Designs Inc. ADV lifted its stake in DraftKings by 36.8% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 1,190 shares of the company’s stock valued at $47,000 after acquiring an additional 320 shares during the period. Eastern Bank purchased a new stake in shares of DraftKings during the 3rd quarter valued at about $59,000. Finally, Quarry LP bought a new stake in shares of DraftKings in the second quarter worth approximately $87,000. 37.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on DKNG. BMO Capital Markets restated an “outperform” rating and set a $48.00 price target on shares of DraftKings in a research note on Wednesday, October 16th. Benchmark reiterated a “buy” rating and set a $44.00 price objective on shares of DraftKings in a research note on Tuesday, January 7th. Morgan Stanley increased their price target on DraftKings from $47.00 to $48.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Barclays upped their price objective on DraftKings from $45.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. upped their price target on DraftKings from $47.00 to $53.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.08.

Read Our Latest Research Report on DKNG

DraftKings Stock Down 1.0 %

Shares of NASDAQ:DKNG opened at $39.29 on Friday. The business has a 50-day moving average price of $40.65 and a 200 day moving average price of $37.97. DraftKings Inc. has a 12-month low of $28.69 and a 12-month high of $49.57. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $34.60 billion, a price-to-earnings ratio of -44.65, a PEG ratio of 2.99 and a beta of 1.90.

DraftKings (NASDAQ:DKNGGet Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.18). DraftKings had a negative net margin of 9.06% and a negative return on equity of 41.23%. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Sell-side analysts expect that DraftKings Inc. will post -0.83 EPS for the current year.

Insider Buying and Selling at DraftKings

In other DraftKings news, insider Paul Liberman sold 200,000 shares of DraftKings stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $39.00, for a total value of $7,800,000.00. Following the transaction, the insider now directly owns 1,342,722 shares in the company, valued at approximately $52,366,158. This trade represents a 12.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jason Robins sold 3,151 shares of DraftKings stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $43.71, for a total value of $137,730.21. Following the completion of the sale, the insider now directly owns 2,631,033 shares in the company, valued at $115,002,452.43. This represents a 0.12 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,052,183 shares of company stock valued at $41,303,025. Insiders own 48.94% of the company’s stock.

DraftKings Company Profile

(Free Report)

DraftKings Inc operates as a digital sports entertainment and gaming company in the United States and internationally. It provides online sports betting and casino, daily fantasy sports, media, and other consumer products, as well as retails sportsbooks. The company also engages in the design and development of sports betting and casino gaming software for online and retail sportsbooks, and iGaming operators.

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Want to see what other hedge funds are holding DKNG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DraftKings Inc. (NASDAQ:DKNGFree Report).

Institutional Ownership by Quarter for DraftKings (NASDAQ:DKNG)

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